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Background We think of a battery today as a source of portable power, but it is no exaggeration to say that the battery is one of the most important inventions in the history of mankind.

Volta's pile was at first a technical curiosity but this new electrochemical phenomenon very quickly opened the door to new branches of both physics and chemistry and a myriad of discoveries, inventions and applications.

This is derived from Keynesian economics, and gained acceptance (especially in the Anglo-Saxon world) during the period between the Great Depression in the 1930s and post-WWII in the 1950s.

This position is attacked from both sides: Advocates of federal-level fiscal conservatism argue that deficit spending is always bad policy, while some post-Keynesian economists—particularly neo-chartalists or proponents of Modern Monetary Theory—argue that deficit spending is necessary for the issuance of new money, and not only for fiscal stimulus.

Government deficit spending is a central point of controversy in economics, as discussed below.

Seeking clarification can be helpful for others too who might not be so bold as to ask. Please note that UK-English spellings for words such as colour, behaviour are different to US-English spellings (color, behavior).The electronics, computers and communications industries, power engineering and much of the chemical industry of today were founded on discoveries made possible by the battery.Pioneers It is often overlooked that throughout the nineteenth century, most of the electrical experimenters, inventors and engineers who made these advances possible had to make their own batteries before they could start their investigations. the World was starting to emerge from the Stone Age. C., Mesopotamians (from modern day Iraq), who had already been active for hundreds of years in primitive metallurgy extracting metals such as copper from their ores, led the way into the Bronze Age when artisans in the cities of Ur and Babylon discovered the properties of bronze and began to use it in place of copper in the production of tools, weapons and armour.As investment equates to real saving, money assets that build up are equivalent to debt capacity.Therefore, the excess saving of money in time of crisis should correspond to increased levels of borrowing, as this generally doesn't happen - the result is intensification of the crisis, as revenues from which money could be saved decline while a higher level of debt is needed to compensate for the collapsing revenues.This glossary of business terms and definitions includes the main terminology used in business, plus many more unusual, interesting and amusing words and expressions found in business and management, and the wider world of work and modern life.